Securities and Exchange Commission (SEC) commissioner Hester Peirce has spoken out against crypto company bailouts, arguing it’s actually better to “let these things play out,” to create a more sustainable industry.
Peirce, the most pro-crypto commissioner for the United States SEC, told Forbes that the recent crash in crypto, though painful, is separating strong companies from the weak.
“When things are a bit harder in the market, you discover who’s actually building something that might last for the long, longer term and what is going to pass away,” she said.
The commissioner made it clear she did not support bailouts for anyone in the crypto industry, particularly those that mismanaged risk and became over-leveraged.
“Crypto does not have a bailout mechanism […] I don’t want to come